This
page is archived news covering the period of November 2017
If you are looking for current daily market news, please visit
here.
Free comprehensive information on worldwide nickel market pricing, stainless steel
prices and metals analysis and forecasts
Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
Cell phone and tablet users - smaller version of
this page -
(here)
Thursday, November 30
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.23/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Wednesday and
started today's session just over the 380,100 tonne level. It is the last
trading day of November and regardless of what happens, nickel averaged higher
this month than it did last month, roughly by $.30/lb. But the month ends
on a down trend, and while traders were able to crawl back over the major
support level $5.16/lb yesterday, that level is in danger of failing again
today. And while the market is off recent highs of nearly $13,000/tonne on
the 7th of this month, it is still well above the low of roughly $8800/tonne,
it hit back in June. Last evening the market closed at $11,520 so we have
a lot of room for the market to move - in either direction. Much of the battery
talk has subsided with hopes for increased demand for nickel now confined
well down the road. We think much of this talk evaporated once it became
clear the new Chinese five year plan did not announce any goal to completely
convert their vehicles from petroleum. The new rule this century, if the
US or Europe sneezes, the world catches a cold. When China sneezes, the world
heads to the doctor to get a pneumonia shot. Lets hope China stays away from
the dust for awhile. This is our last update for the week, so we wish our
readers a safe and relaxing weekend.
Average price of cash nickel so far this month - $5.45/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(GC) Norilsk Nickel, the Russian nickel and palladium producer, is in the
market for a $1bn syndicated loan. The facility is unsecured, and pricing
has been driven down to pre-sanctions levels, showing the risk appetite for
Russian credits is on the rise.
Euro Slides, Bonds Rise on Inflation; Stocks Gain: Markets Wrap -
more
(Wednesday wrap-up) Copper pushed lower on worries over China, falling
oil price - Copper prices dropped for a third day and aluminium fell to the
lowest since mid-August as concerns over demand in top consumer China and
declining oil prices pushed investors to sell. -
more
New
World Order is Reshaping Stainless Steel Market - Global stainless steel
production reflects the shift in relative size and influence between the
world’s established and developing economies. -
more
Metal production up 6% from Jan-Sept - Metal production rose six percent
to P81 billion in first nine months of the year due to the continued improvement
of prices in the world market, the Mines and Geosciences Bureau (MGB) said.
-
more
Opposition organizes against Sault's ferrochrome smelter proposal -
A local grassroots group is talking about using the story of Erin Brockovich
to persuade Saultites there are better ways to build our economy than a
ferrochrome smelter -
more
Indonesia eyes global playing field with state mining conglomerate
- The day began with dozens of Indonesian government officials and state
mining executives shuffling in and out of marathon meetings at one of Jakarta's
oldest hotels. -
more
Zimasco
engages creditors on scheme of arrangement - Kwekwe-based chrome smelting
company Zimbabwe Mining and Smelting Company (Zimasco), met its creditors
yesterday to deliberate on the proposed scheme of arrangement. -
more
Is China's aluminium sector too relaxed about U.S. dumping moves?:
Russell - It will be tempting for China’s aluminium market participants
to dismiss as inconsequential the latest move by the U.S. Commerce Department
to impose anti-subsidy and anti-dumping duties on imports of aluminium alloy
sheet. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 29
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.15/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel store din LME approved warehouses rose on Tuesday and started today's
trading session just under the 380,450 tonne level. Cancelled warrants measured
in the 35% range last week, and the 34% range this week We show major support
at $5.16/lb so yesterday's close below that level, should be of concern to
bullish traders who believe in this form of trading. What could be potentially
more concerning to bullish traders, the current traded price of nickel is
coming dangerously close to the 100 day moving average price of $5.07/lb.
We have already seen the 10 day MVA crossover the 30 day, and if it should
develop the 10 day crosses over the 100 day, it could be another quiet winter
for bulls. There was little to no market news over the past 24 hours.
Average price of cash nickel so far this month - $5.47/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
fnarena - The stronger greenback weighed on base metal prices, which remain
under pressure since Beijing’s clampdown on lending and indications
Chinese stainless steel demand is waning. Last night all base metals fell
-1-2% in London.
(SMM) As per SMM research, Indonesia NPI output reaches 6,000 tons this month,
saying 650 metal content tons, keeping same level as last month, which is
all sold to China.
(SO) Odisha to set up Stainless Steel Park for value-added products
Goldman Warns Highest Valuations Since 1900 Mean Pain Is Coming -
more
Stocks Gain With U.S. Tax in Focus; Pound Rises: Markets Wrap -
more
Deteriorating fundamentals send nickel to six-week low - Nickel prices
hit their lowest level in more than six weeks on Tuesday as the market fretted
about weaker demand in top consumer China and rising supplies from major
producer Indonesia. -
more
NAS Press
Release - For the month of December 2017, North American Stainless will increase
the fuel surcharge to 23% for stainless flat and long products. The surcharge
rate is considered a maximum level for December and will be reviewed monthly.
-
source
Promising signs in Tanzania as explorers meet with new mining minister
- The situation in Tanzania is looking a bit more promising for Australian
juniors with resources projects in the East African country, with small signs
of government support. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 28
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.25/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.11/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and started the
session today just over the 379,300 tonne level. Nickel is currently trading
where it was on October 12th, then on the climb, September 13th, on the decline,
and on August 21st, on the rise. In other words, thru the valleys and the
summits, the market is basically back to where it was in late August. Nickel
has fallen thru support at $5.16/lb this morning, so it will be interesting
to see if this point successfully blocks further declines, or merely slows
the bearish run. Bulls are trying to figure out if the old adage 'never try
to catch a falling knife' applies today or not. Bears are cashing in, with
volatility rewarding the courageous on both sides of the trading world, with
downstream users the ones to suffer.
Average price of cash nickel so far this month - $5.49/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Steel Imports Up 19% Year-to-Date Through October -
more
(BM) The S&P Global Platts China Steel Sentiment Index edged down to
31.93 this month, from 33.61 in October
Reuters - Colin Hamilton, head of commodities research at BMO Capital Markets
- “Some reports coming from China (indicate) stainless orders are weakening.
Over the past couple of weeks questions from clients have gone from ‘what
are the benefits of electric vehicles (for nickel)’ to ‘how bad
is China’s demand’”
Stocks Rise as Energy Shares Jump; Dollar Steady: Markets Wrap -
more
(Monday recap) Nickel slides nearly 4 percent on China jitters - Nickel
prices fell nearly 4 percent on Monday, pressured by weakening demand for
stainless steel in top metals consumer China, rising Chinese borrowing costs
and Beijing’s regulatory crackdown on risky financing. -
more
Worries
over Chinese demand weighs on metals prices and mining stocks - Concerns
over the prospect of slowing Chinese demand continued to weigh on metals
prices and mining stocks on Tuesday morning. -
more
World
Nickel Market Ended in Marginal Deficit During Jan-Sep ‘17 - The latest
Metals Balances Report released by the World Bureau of Metal Statistics (WBMS)
indicates that global Nickel market has ended in a marginal deficit during
the initial nine-month period of 2017. -
more
RNC Plans to
Double Beta Hunt Nickel Production in 2018 and Resumes Discussions with Financing
and Offtake Partners for Dumont Nickel-Cobalt Project - RNC Minerals is pleased
to provide an update on its plans to increase nickel production from the
Beta Hunt gold and nickel mine. -
more
Smelter
jobs needed: mayor - Thunder Bay Mayor Keith Hobbs says he sees no downsides
to the prospect of a ferrochrome smelter being located in the city, suggesting
that any “environmental” concerns that might be raised are manageable.
-
more
Courtesy
AISI - In the week ending on November 25, 2017, domestic raw steel production
was 1,703,000 net tons while the capability utilization rate was 73.0 percent.
Production was 1,591,000 net tons in the week ending November 25, 2016 while
the capability utilization then was 67.1 percent. The current week production
represents a 7.0 percent increase from the same period in the previous year.
Production for the week ending November 25, 2017 is down 2.4 percent from
the previous week ending November 18, 2017 when production was 1,745,000
net tons and the rate of capability utilization was 74.9 percent. -
more
Investors force Rio Tinto to ditch plans to have Mick Davis as chairman
- Plans to name former Xstrata chief executive Mick Davis, the current leader
of Britain’s ruling Conservative Party, as chairman of Rio Tinto (ASX,
LON:RIO) have been abandoned due to investors pressure. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 27
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.46/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.18/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses fell the last three sessions
and start the week just over the 380,200 tonne level. Nickel closed Friday
just above the $12,000/tonne level and just above its 30 day moving average,
but this morning is trading about $200/tonne above where it started the last
upturn. The correction that started earlier this month does not appear to
be over yet. If one looks at the Euro/US Dollar currency graph, there are
some similarities to the nickel price graph, but not close enough to trade
on. We don't really see a reason for today's retreat, unless the $12,000/tonne
is more of a line of resistance than the charts reveal. Nickel averaged $5.13/lb
last month and is much higher than that so far this month, so traders could
be locking in profits before month end. We will have to wait and see what
the rest of the week brings before determining if this is something
more than a the market correction working itself out. Enjoy your week!
Average price of cash nickel so far this month - $5.52/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Why the Commodity Supercycle Is Favoring Investors Right Now -
more
DJ-UBS Nickel TR Sub-Idx ETN Ipath (JJN) Sees Schaff Trend Cycle Trending
Lower -
more
Mike Beck: Cobalt – The Most Supply Constrained Commodity on Earth,
By Far -
more
Stocks Steady as Focus Turns to Tax; Dollar Slips: Markets Wrap -
more
Copper tops $7,000, helped by weaker dollar and shrinking supply -
The price of copper climbed above $7,000 a tonne and towards a one-month
high on Friday, helped by a weaker dollar and shrinking supplies, though
concerns over demand from top consumer China capped gains. -
more
MGB:
HMC mining permit renewal unlikely - The application for the renewal of Hinatuan
Mining Corp.’s (HMC) mining permit in Eastern Samar is likely to be
rejected based on existing laws, Mines and Geosciences Bureau (MGB) Director
Wilfredo Moncano said. -
more
Restore whole ecology not just trees, miners told -
more
Indonesia's Antam eyes 162 pct jump in 2018 nickel ore sales -
Indonesia’s state-owned diversified miner PT Aneka Tambang Tbk (Antam)
is targeting a 162 percent jump in nickel ore sales next year to 11 million
tonnes from an estimated 4.2 million tonnes this year, its chief executive
said on Wednesday. -
more
China's
steel prices to stabilize in 2018: industry group - China's steel prices
will continue to firm up in 2018 as production and supply are becoming more
balanced, according to a senior official at the China Iron and Steel Association
(CISA). -
more
Clive
Palmer 'having a good look' at reopening Queensland Nickel refinery after
$197m lawsuit win - Clive Palmer has confirmed he is considering reopening
the Queensland Nickel refinery in north Queensland, which comes after he
won a $197 million lawsuit against Chinese corporate company Citic. -
more
Mnangagwa and Chiwenga Pictured with SA businessmen on interpol arrest warrant
- Pictures have emerged online showing new president Emmerson Mnangagwa and
army general Constantino Chiwenga with a controversial businessman who had
an arrest warrant issued by interpol. Mnangagwa and Chiwenga were pictured
with Zunaid Moti, a South African businessman along with several other business
associates named on the same arrest warrant. -
more
Mayor
expects 'home run' on ferrochrome smelter bid - Shortlisted as one of four
possible locations for NorOnt Resources Ltd.'s ferrochrome smelter, Sault
Ste. Marie has an excellent chance of securing the facility, city councillors
learned this week. -
more
Burundi
signs agreement with Canada based company to exploit nickel - The Burundian
government Monday signed an agreement with CVMR, a Canada-based company to
continue explorations and the exploitation of nickel in Karusi and Gitega
provinces, central Burundi, the Burundian energy and mining minister said
here in a press conference. -
more
Norilsk
Nickel: urban residents to be engaged in solution of infrastructural projects
- It is impossible to solve infrastructural problems of northern cities and
create a comfortable environment there without the initiative of residents,
Senior Vice President of Russian mining and metals company Norilsk Nickel
Larisa Zelkova told TASS. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 22
US
markets are closed Thursday for Thanksgiving. Our next update will be Monday,
November 27. Happy Thanksgiving to our US readers and a big thank you to
all of our daily readers!
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.38/lb. Indicators at
6:25 am CST today show 3 month nickel trading around $.04/lb
lower. On the same
day that Glencore announced it forecast the world nickel deficit to be 170,000
metric tonnes, and the World Bureau of Metal Statistics announced the market
was 46,000 metric tonnes in deficit thru the end of September, London Metal
Exchange warehouses reported a new high stock level for November at just
over the 384,200 tonne level, after a near 5000 tonne daily gain. Another
head scratcher headline this morning credits the increase in Chinese steel
prices for the gain in base metal trading this week. It's pretty well documented
that the increase in Chinese steel prices is being caused by a reduction
in steel output in that country due to the pollution crackdown and seasonal
slowdown. Need proof
(here)? So less steel produced equals more demand for
its ingredients? Cross your eyes and you still can't make that math work.
After a correction that may or may not be over, nickel has been trading lower
as US markets open each day this week, but have ended higher on Monday and
Tuesday. US stainless steel surcharges for December were announced yesterday
and are slightly higher than we saw in October. You can find our updated
sheet
here.
Average price of cash nickel so far this month - $5.53/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
S&P Global Platts China Steel Sentiment Index Flat In November -
more
Dollar Falls as Euro Rises; European Stocks Drift: Markets Wrap -
more
(Tuesday wrap up) Aluminium slips on doubts over China supply cuts
- Aluminium prices fell on Tuesday towards the near-three-month lows hit
last week on expectations that the pace of supply cuts from top producer
China would slow and demand growth weaken. -
more
Philippines' Duterte threatens to close mines that support rebels -
Philippine President Rodrigo Duterte on Tuesday threatened to shut down any
mine that supports Maoist rebels waging a protracted guerrilla war to overthrow
the government. -
more
WBMS
- The Nickel market was in deficit during January to September 2017 with
apparent demand exceeding production by 46.6 kt. In the whole of 2016 the
calculated deficit was 68.2 kt. Reported stocks held in the LME at the end
of September 2017 were 12.4 kt higher than at the end of the previous year
with most of the increases recorded in Asia. Refined production in January
to September 2017 totalled 1329.2 kt and demand was 1375.8 kt. Mine production
during January to September was 1448.1 kt, 47 kt above the comparable 2016
total. Chinese smelter/refinery output decreased by 24 kt compared with 2016
and apparent demand was 153 kt lower than in the previous year due to reduced
imports of Nickel metal from Russia. World apparent demand was 85 kt lower
than the previous year. No allowance is made in the consumption calculation
for unreported stock changes. In September 2017, nickel smelter/refinery
production was 169.3 kt and consumption was 175.1 kt. -
more
Open-pit mining ban stays after Duterte directive: environment chief
- The Philippine environment secretary said on Wednesday that a ban on new
open pit mining in the country would remain in place, with President Rodrigo
Duterte rejecting government panel recommendations to reverse it. -
more
Glencore Sees Nickel in Best Shape in Decade Before EVs Take Off -
Glencore Plc is seeing the best market conditions for nickel in at least
a decade, and electric cars are barely playing a part yet. -
more
Indonesia's Antam eyes 162% jump in 2018 nickel ore sales - Indonesia's
state-owned diversified miner PT Aneka Tambang Tbk (Antam) is targeting a
162% jump in nickel ore sales next year to 11-million tonnes from an estimated
4.2-million tonnes this year, its CEO said on Wednesday. -
more
London
Metal Exchange outlines waivers to new OTC fee - The London Metal Exchange
said on Wednesday it had agreed a range of waivers and discounts to assuage
its members when it starts to charge a fee on off-exchange, over-the-counter
(OTC) contracts that reference its prices. -
more
Russian
Metals Billionaires Hope for Peace as ‘Shoot Out’ Looms - A shoot
out is looming in Russian metals. That isn’t a reference to the
industry’s blood-soaked history, but to a clause in a hard-won peace
deal between two billionaire shareholders of MMC Norilsk Nickel PJSC,
Russia’s largest miner. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 21
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.29/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and begin today's
session just under the 379,300 tonne level. The US Dollar is presently trading
higher against the Euro, which is adding a little negative pressure on commodity
trading. If you are one of those old fashioned traders who feel fundamentals
actually mean something, and that signals should still be considered, then
you might want to check on the Baltic Dry Index. After spiking earlier this
year, it continues to fall. Vale said the Reuters report that the sale of
a part of the old Goro mine in New Caledonia was on hold were erroneous.
With many US traders traveling tomorrow, markets could remain subdued.
Average price of cash nickel so far this month - $5.55/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
The International Stainless Steel Forum has published a brochure on martensitic
stainless steels. -
more
(Reuters) Nickel ore output fell 11 percent in the nine months to September
as several mines remained shut under the government crackdown and others
were hit by bad weather.
European Stocks Gain as Bonds Rise; Dollar Slips: Markets Wrap -
more
La Niña ALERT: Tropical Pacific near La Niña thresholds -
more
(Monday wrap-up) Copper edges higher on upturn in China property prices
- Copper edged higher on Monday, supported by falling inventories and a monthly
upturn in China’s property prices, with gains capped by a firmer dollar.
-
more
China's
Prices of CR Stainless Steel Sheets on Downward Trend - = With the year end
imminent = According to a source, China's market prices of stainless steel
flat products are likely to be on an downward trend with the year end imminent.
-
more
Brazil's Vale still eyeing sale of stake in New Caledonia nickel mine
- Brazilian miner Vale is still looking to sell a stake in its New Caledonian
nickel operations, despite press reports that the company would postpone
the sale, the Brazilian miner said Monday. -
more
Russia
miner Nornickel sees capex rising by 2019-2020 - Russia’s Norilsk Nickel
plans to increase capital expenditure to an average of $2.3 billion to $2.5
billion a year in 2019 and 2020 from about $2 billion in 2018 due to an
environmental project and infrastructure modernization, it said on Monday.
-
more
Courtesy
AISI - In the week ending on November 18, 2017, domestic raw steel production
was 1,745,000 net tons while the capability utilization rate was 74.9 percent.
Production was 1,591,000 net tons in the week ending November 18, 2016 while
the capability utilization then was 67.1 percent. The current week production
represents a 9.7 percent increase from the same period in the previous year.
Production for the week ending November 18, 2017 is up 0.3 percent from the
previous week ending November 11, 2017 when production was 1,739,000 net
tons and the rate of capability utilization was 74.6 percent. -
source
Taiwanese firm offers ‘cyanide-free’ technology for ore
extraction - Taiwanese firm Xin Ye Industry, Ltd. is offering mining companies
operating in the Philippines with a “green” technology as it is
set to build a second of its about PHP20 million ore stripping facility in
the country. -
more
Metals
Billionaire to Win Whether Electric Cars Boom or Bust - There are two major
reasons mining billionaire Vladimir Potanin is within a hair’s breadth
of regaining his ranking as Russia’s richest tycoon this year. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 20
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.25/lb. Indicators at
6:15 am CST today show 3 month nickel trading around $.03/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
start the week just under the 379,900 tonne level. Commodity trading in general
this morning shows a sea of red, and nickel is no different. Nickel climbed
out of a hole on Friday, but its not showing much bullish enthusiasm this
morning. The trendline downward remains in place and has yet to be broken.
Trading will be somewhat subdued this week for the United States, with Thursday's
Thanksgiving holiday being one of the most traveled holiday's, and a long
weekend for many. We hope you have a profitable week.
Average price of cash nickel so far this month - $5.57/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) India's stainless steel output to rise by nine percent in FY 2017-18
(SMM) China’s stainless steel output is 2,179,600 tons in October, up
2.55% MoM. The total output from January to October is 20.14 million tons,
up 6% YoY
Euro Shrugs Off German Impasse as Stocks Rebound: Markets Wrap -
more
(Friday wrapup) Nickel gains capped by caution over high inventories
- Nickel and copper led the base metals complex higher on Friday, supported
by a softer dollar, though both metals ended the week lower. -
more
Nickel loses its electric car fizz, realises it's still a steel play:
Russell - The nickel market is learning that there is a difference in believing
you are the next big thing in battery metals and the reality that you are
actually still beholden to the Chinese steel sector. -
more
Domestic
stainless steel output to hit 3.6 mt at 2017-end - The growth is in response
to the rising demand for stainless steel, mainly from sectors such as auto,
roads and highways, housing and the like, the industry veteran said, adding
that the demand will keep rising every year -
more
Vale delays sale of stake in New Caledonia nickel mine - Vale SA has
decided to postpone the sale of a stake in its New Caledonia nickel mine
after the initial bids for the asset came in at the lower end of expectations,
two people with knowledge of the matter said. -
more
Brazil's Vale denies postponing sale of New Caledonia mine stake -
more
Taiwan firm to build 2nd ore-stripping facility in Baguio City -
Taiwan-based Philippines Xin Ye Industry Ltd. said it is set to build a second
ore-stripping facility in the Philippines. -
more
BHP
seeks shale exit within two years; Nickel West on the block - BHP Billiton
says it will seek to fully divest its U.S. shale business in the next two
years or so and is looking for the right time to sell its Nickel West business
in Australia. -
more
Metal Recyclers Prepare for Electric Car Revolution - Recycling companies
are honing processes to extract metals from old batteries more cheaply and
efficiently so they can capitalize on an expected shortfall in materials
such as cobalt and lithium when sales of electric cars take off. -
more
Recycling operations get revamped to meet electric vehicle demand -
more
Production
Plan for Special Steel Products in Oct-Dec 5.0718 Mil. Tons = Down by 0.4%
from year-earlier period = On November 10, the Ministry of Economy, Trade
and Industry made clear the production plan for hot-rolled special steel
products in the period from October to December in 2017. -
more
Philippine president keeps open pit mining ban in policy clash - Philippine
President Rodrigo Duterte has not lifted a ban on open pit mining, his spokesman
said on Monday, going against the stance of a government panel and the
environment minister who are seeking to reverse the policy. -
more
Tesla
Truck supercharges hopes for boom in battery metals demand - Tesla Inc.’s
plans to roll out an all-electric big rig have given a fresh jolt to the
outlook for battery metals that will go into powering the truck founder Elon
Musk is calling “The Beast.” -
more
Nickel-based catalyst able to recycle carbon dioxide, methane; control
climate change - A cost-effective catalyst has been developed to recycle
two of the main causes behind climate change - carbon dioxide (CO2) and methane
(CH4). -
more
Plundering LP miner remains unpunished - An influential mine that over-extracted
1.8 million tons of ore worth P2.8 billion continues to operate, escape taxes,
and ruin nature. Reports from Tubay, Agusan del Norte, are that SR Metals
Inc. (SRMI) goes on leveling mountains for nickel. -
more
Congressional Steel Caucus Urges Completion of Section 232 Investigation
- President Donald Trump on April 20 issued a presidential memorandum directing
the secretary of commerce to conduct a Section 232 investigation “to
determine the effects on national security of steel imports. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 16
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.30/lb. Indicators
at 6:15 am CST today show 3 month nickel trading around $.01/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Wednesday and started
today's session just over the 382,400 tonne level. Nickle continued to slump
yesterday, trading at a new low for the month. Today the market is licking
its wounds and warily watching for any movement momentum. So far there has
been none, with overnight gains evaporating rather quickly but the market
has been quiet since. Cancelled warrants continue to slip, now at 33.64%.
Chinese Yuan bounced yesterday but has retreated some today. Euro is also
trading higher than it was last week. Vale is reportedly considering bids
for partnerships in its New Caledonia operation, which a few years ago, was
known as the mega Goro project. BHP is also throwing out hints it is looking
to get out of the nickel business with its leader telling reporters yesterday
it was waiting for the 'right time' to put its Nickel West operation on the
market. Just curious. If the market has such a bright future as we have been
led to believe these past months, with electric cars needing nickel laden
batteries to be the saviour for future metal demand, how come the big boys
are trying to off load their big mines? Goro is somewhat understandable as
it is one of the most expensive to operate mines in the world. But BHP still
determined to get out of nickel mining? In less shocking news, Zimbabwe's
former President Mugabe has been removed in a military coup. This could be
good news for miners in the future, as the former administrations complete
control made mining in that country a fool's errand. The trends of the week
remain intact, short term negative and long term positive. This is our last
update for teh week, so we wish our readers a safe and relaxing weekend and
hope to see you again next week.
Average price of cash nickel so far this month - $5.64/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Glencore, Canadian teachers close to launch mining royalty firm -
more
Reuters - BHP Billiton said on Thursday it was looking for the right time
to sell its Nickel West business in Australia.
Stocks Regain Ground; Euro Slips, Dollar Edges Up: Markets Wrap -
more
(Wednesday wrap-up) Base metals slide as China data hints at slowdown
- Base metals slid on Wednesday as data from China stoked fears of a slowdown
in the world’s top commodities consumer, with falls in oil and global
stocks indicating broad-based caution among investors. -
more
BHP
eyes two-year exit from shale; also selling nickel - BHP Billiton said on
Thursday it hopes to fully divest its troubled U.S. onshore shale business
in around two years and is also seeking a buyer for its nickel business in
Australia. -
more
RI
benefitting from China’s love of nickel - Given its plan to boost the
use of electric vehicles, China’s love of nickel is projected to remain
robust in the years to come, making it crucial for the country to make long-term
investments in Indonesia, which is home to 40 percent of the world’s
high-grade lateritic nickel ore. -
more
Vale
CEO Schvartsman cuts investments in low-return segments - Vale SA will
halt new investments in low-return segments like its nickel business, the
company’s chief executive officer said on Wednesday. -
more
Zimbabwe calm as Mugabe is urged to go peacefully - Zimbabweans faced
another day of uncertainty amid quiet talks to resolve the country's political
turmoil and the likely end of President Robert Mugabe's decades-long rule.
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 15
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.34/lb. Indicators
at 6:20 am CST today show 3 month nickel trading around $.14/lb
lower. Stockpiles
of nickel stored in LME licensed warehouses rose sharply on Tuesday and started
today's session at 382,650 tonnes. Cancelled warrants fell below the 34%
level. Nickel had a brutal day yesterday, and today is starting much like
yesterday ended. Nickel gave back over 5% yesterday, and is currently off
by over 2-1/2%. $5.22/lb might offer a little support, as it was the low
point of a late October sell off, but $5.16/lb offers major support. Nickel
is trading below is 10 and 30 day moving average, but with the 100 day at
$4.96/lb, there is a comfort zone of protection there. Nickel stockpiles
grew by over 3,000 tonnes yesterday, putting the month on the plus side again.
Trends remain intact, with short term bearish, and long term a tad
less bullish.
Average price of cash nickel so far this month - $5.68/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China’s production cuts to boost steel prices -
more
Stocks Decline Globally as Oil Slides; Euro Gains: Markets Wrap -
more
(Tuesday wrapup) Nickel slides 5 pct as base metals pull back - Nickel
fell more than 5 percent on Tuesday, leading a broad-based pullback in base
metals prices after weaker-than-expected economic data from China sparked
concerns about demand. -
more
PH
nickel producer, Russian firm putting up processing plant - Global Ferronickel
Holdings Inc., the second largest nickel producer in the country, yesterday
signed a memorandum of agreement with Russian firm Vi Holding LLC to build
a nickel processing plant in Surigao del Norte. -
more
Balance
between Nickel Supply and Demand, Price Decides the Supply - Nickel price
has surged since the end of September. -
more
New supply sources could dampen nickel prices - Forget electric vehicles
for now. Nickel must first contend with a new wave of supply from Indonesia
and the Philippines, as well as a Chinese stainless steel market that’s
at risk of slowing after a two-year boom. -
more
Some
stories to start your day - The United Steelworkers Union Local 6500 is working
fast to try to do whatever they can to help 480 members working at Vale's
Coleman Mine in Sudbury that have been temporarily laid off after operations
were suspended due to safety concerns. -
more
Nov
Ni SUS Scrap Purchase Price in Kanto with JPY145,000 - 150,000 = Due to increased
Ni price and sense of supply of SABOT being short = As of November 9, many
of the stainless steel mills in the Kanto area offer the purchase price
(delivered at plant) of nickel-containing stainless steel scrap (SABOT) at
JPY145,000 - JPY150,000 per ton. -
more
Greens
not buying into talk about a “miracle” in Sotkamo - Terrafame announced
last week its plans to build a battery chemicals production plant adjacent
to its zinc and nickel mine in Sotkamo, Northern Finland. -
more
Judge
weighs motion to dismiss Twin Metals mining lawsuit - Government lawyers
asked a federal judge Tuesday to dismiss a lawsuit by developers of the proposed
Twin Metals copper-nickel mine who are seeking to regain their mineral rights
leases, arguing that their dispute belongs in a different court. -
more
Ring
of Fire to feed ‘hungry’ Sudbury smelters first - The president
and chief executive officer says he has been working closely with all four
of Noront’s best prospects as host to a plant that would process ore
from Ring of Fire chromite deposits in Northwestern Ontario. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 14
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.67/lb
. Indicators
at 6:15 am CST today show 3 month nickel trading around $.09/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and started today
just under the 379,600 tonne level. Nickel rose by over 3% yesterday and
is down by over 1-1/2% this morning. Yesterday's jump was able to punch thru
the downtrend line, but today's trading has buried the trading price back
in that trendline. Nearly all of the technical indicators have turned their
back on nickel, but many just follow the current trend. We show strong support
for nickel way back at $5.16/lb, with markets having a hard time establishing
effective lines during bullish or bearish runs. Resistance remains at $5.82/lb.
Euro is higher against the US Dollar, a positive signal for base metal trading.
For those of us who refuse to give up fundamental signals, here are a few
to take note of. The Baltic Dry Index is off a recent high and falling sharply.
And cancelled warrants continue to fall since the LME Week meeting broke
up, down from the 37% range down to the 34% range. Long time readers know
why the latter is worth watching. Volatile market, with the short term trend
turning negative, but the long term remaining positive.
Average price of cash nickel so far this month - $5.69/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
(SO) NBS: China’s crude steel output up 6.1 percent in January-October
Anglo Keeps Eye on Prize Amid Another Brazil Iron-Permit Setback -
more
Europe Stocks Track Asia Peers Lower; Dollar Drops: Markets Wrap -
more
Monday
wrapup - Nickel rebounds as wary consumers lock in prices, funds buy - Nickel
prices bounced back on Monday after two sessions of losses as industrial
consumers bought metal to guard against further price gains and speculators
also piled in. -
more
Nickel
Supply Rush Seen Cooling Rally Before Batteries Boost - Forget electric vehicles
for now. Nickel must first contend with a new wave of supply from Indonesia
and the Philippines, as well as a Chinese stainless steel market that’s
at risk of slowing after a two-year boom. -
more
China's
Production of SUS Crude Steel in Jan-Sept 19.669 Mil. Tons = Up by 8% from
year-earlier period, and production of all steel types except Mn-type is
up = Stainless Steel Council of China Special Steel Enterprises Association
announced China's production of stainless crude steel in the period from
January to September in 2017 was 19.6693 million tons, up by 8.0% from 18.218
million tons in the year-earlier period. -
more
Timmins
confident it will get plant - - Timmins feels it may have an edge in its
bid to win the attention of Noront Resources. -
more
Courtesy
AISI - In the week ending on November 11, 2017, domestic raw steel production
was 1,739,000 net tons while the capability utilization rate was 74.6 percent.
Production was 1,591,000 net tons in the week ending November 11, 2016 while
the capability utilization then was 67.1 percent. The current week production
represents a 9.3 percent increase from the same period in the previous year.
Production for the week ending November 11, 2017 is up 1.4 percent from the
previous week ending November 4, 2017 when production was 1,715,000 net tons
and the rate of capability utilization was 73.6 percent. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 13
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at $. Indicators
at 6:20 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Thursday and Friday and
started the week just under the 380,100 tonne level. Nickel recovered somewhat
on Friday after it ended lower on Thursday and is up this morning. The trend
is still negative, nickel having fallen fairly consistently since the 6th.
Reuters reported Morgan Stanley analyst as stating "While expecting annual
nickel demand from the electric vehicle sector to grow to 300,000 tonnes
by 2025, Morgan Stanley said the market had been ignoring downside risks
from policy developments in Indonesia, which recently lifted curbs on ore
exports, and the Philippines, where the end of a ban on open-pit mining has
been mooted.". This morning Bloomberg is quoting Lachlan Shaw, an analyst
at UBS Group AG in Melbourne “The market has been getting too excited,
too soon because of the whole EV thematic -- we think that has been misplaced
....It’s only really 12-18 months hence that we will have an idea of
what’s really happening in the battery space, and by 2020 it could be
a big part of demand growth. In the short term, nickel will remain a conventional
stainless steel trade.” In other words, it's a market based strictly
on speculation and is being traded on hopes of demand we won't see for another
three years. Investor beware.
Average price of cash nickel so far this month - $5.72/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
September Steel Shipments Up 11.7 Percent From September 2016 -
more
US Seeks to Include Steel Requirements in NAFTA -
more
Trump a ‘Total Paper Tiger’ on Trade, Schumer Says -
more
Steel exports slipped a bit in September, falling 1.5 percent to 903,389
net tons. -
more
Steel imports declined by more than one-tenth from August to September, falling
to 3.05 million net tons. -
more
Iron Ore Participates In The Industrial Recovery, But It Might Not Look That
Way -
more
Sterling Under Pressure; Stocks Slip as Bonds Gain: Markets Wrap -
more
Friday
wrapup - Aluminium set for worst week in 18 months on China output - Aluminium
edged into positive territory on Friday but was still on track for its worst
week since May 2016 as speculative investment flows ebbed on caution over
the scale of expected Chinese capacity cuts. -
more
Vale
suspends operations at Sudbury-based mine over safety concerns - Mining company
Vale says operations have been suspended at the Coleman Mine in Levack due
to safety concerns. -
more
Finnish
nickel producer aims to tap electric vehicle boom - Finland's Terrafame nickel
mine is planning to start producing material for electric vehicle batteries
by 2020, the company said on Friday. -
more
Terrafame plans nickel and cobalt chemicals production -
more
Govt
will soon remove Customs duty on ferro nickel - The government will soon
remove the Customs duty on ferro nickel, which is used by the stainless steel
industry. -
more
Cuba
Looks to Expand its Open Pit Nickel Mines - Cuba’s nickel industry is
looking to expand its strip mines in search of this precious metal. According
to Juan Ruiz Quintana, the managing director of Mining at the Ministry of
Mines and Energy, “geological studies to discover new areas rich in
this and other metals” are underway. -
more
NSSMC
Expands Price Rise of Seamless Stainless Pipes to Other Areas - Nippon Steel
& Sumitomo Metal (NSSMC) intends to expand an increase in prices of seamless
stainless steel pipes produced at its Amagasaki Works and the Hikari Area
of its Oita Works to other customer areas than export and customers with
strings attached (for projects) for which prices have already raised by 10%
and continue increases in prices of them to all areas. -
more
Sherritt to transfer part ownership of Madagascar mine to settled debt
woes - Sherritt International Corp.says it has reached a deal with the joint
owners of a Madagascar mine that will see it transfer more ownership to cut
its outstanding debt. -
more
Another good sign for nickel prices - Here's a sign that 2017's nickel
boom is in full swing: Vale SA is looking to sell a slice of its New Caledonian
unit, and seems to be attracting bidders. -
more
3D printing makes stainless steel three times stronger - Researchers
have developed a way to 3D print stainless steel that triples the strength
of the material. -
more
Researchers achieve breakthrough in 3-D printed marine grade stainless steel
-
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 9
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.76/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.20/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and started
the day just under the 383,000 tonne level. Reuters this morning "...nickel
fell by more than 2 percent in London to its weakest since October as hype
over potential electric vehicle demand that has been driving it higher
eased." Reuters last night "“The majority of fundamental investors
we spoke to (during LME Week), particularly from China, were neutral to
bearish nickel at current price levels,” said Nicholas Snowdon,
metals analyst at Standard Chartered in London." The key to Mr Snowdon's
remark applied to "fundamental investors' and we are not sure how many of
them exist anymore. Cancelled warrants continue to fall and we suspect the
reason they are down are large traders are becoming less risk averse and
thus, are pulling back on the 'hiding' inventory strategy. We don't see strong
technical support until $5.16/lb, but psychological support is at $5.44/lb
($12,000 tonne). The market is overdone, rising too fast over the
past weeks, so a correction was needed to keep the bullish market healthy.
The LME nickel market turned corrective on Monday, so today is just an emphasis
of that point. This is our last update for the week, so we wish each of you
a safe and relaxing weekend.
Average price of cash nickel so far this month - $5.75/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
September 2017 Freight Transportation Services Index (TSI) hits all-time
high at 129.2 -
more
Stocks Drop, Led by Miners; Dollar Declines: Markets Wrap -
more
(Wednesday ending) Aluminium slips for second day as speculative flows
reverse - The price of aluminium slipped further on Wednesday as investors
judged its recent rally as being mainly driven by speculators rather than
supply/demand factors. -
more
Brazil's Vale says received bids for New Caledonia nickel project -
Brazil’s miner Vale SA said on Wednesday it had received bids to invest
in its New Caledonia nickel project as the company reevaluates its nickel
business. -
more
Nickel
still core for miner - Kambalda-focused Mincor Resources is yet to give a
timeframe on its return to nickel, as it approaches an investment decision
on a new gold project near Widgiemooltha. -
more
Zimbabwe
invites investment in underground chrome mining – Zimbabwe on
Wednesday invited chrome mining investors to focus on underground chromium
operations rather than cheaper strip mining operations, from which most of
the country’s chromium ore is currently extracted. -
more
Why
nickel outshines gold for Mincor Resources - Nickel, rather than gold, has
been powering up Mincor’s share price, writes Barry FitzGerald in his
weekly Garimpeiro column. -
more
Caution
needed over weakness in China's imports of iron ore, coal: Russell - If the
sharp drop in China’s iron ore imports in October looks suspicious,
it should be viewed in the light of the record high the previous month and
a holiday week. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 8
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.74/lb. Indicators
at 6:25 am CST today show 3 month nickel trading around $.04/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started today's
session just over the 380,600 tonne level. We are 18 tonnes over the half
way point between the level we started the year at, and the highest level
LME stockpiles were recorded this year. Nickel fell back yesterday, and after
the psychological resistance level of $5.90/lb, we show the next serious
line of resistance not until $13,900/tonne or $6.31/lb. That is a huge jump
and reflects the volatility of the present market. The news is blaming a
stronger Dollar on nickel's retreat yesterday, but I am not seeing this.
The Euro did a big nothing yesterday, fell early this morning, but has recovered
since. The Yuan rose, then fell and is a tad higher this morning. Shanghai
steel futures retreated a little today. Candlesticks remain positive, while
other technicals have turned bearish, but again, many of these signals are
merely following what is happening, rather than forecasting the future. The
30 day moving average for nickel is $5.27/lb , while the 100 day is at $4.89/lb
Average price of cash nickel so far this month - $5.76/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Nickel: The Secret Driver of the Battery Revolution -
more
China iron ore hits six-week high, but steel output curbs to weigh -
more
Stocks Slip on Banking Earnings; Dollar Declines: Markets Wrap -
more
La Niña remains possible, but effect on Australia's climate likely
to be less than during recent events -
more
Tuesday wrap up - Nickel falls as stronger dollar triggers profit-taking
- Nickel fell sharply on Tuesday as a stronger dollar encouraged investors
to take profits after prices rose almost 10 percent to two-year highs last
week on growing expectations of demand from manufacturers of batteries used
to power electric vehicles. -
more
China's
Antaike says global nickel deficit to shrink in 2018 - Demand for nickel
will outstrip global supply for the third year on the trot in 2018, although
the size of the deficit is set to shrink, according to Chinese state-backed
research firm Antaike. -
more
Don’t Look Now, But Nickel Just Surged 10% In A Week - From Collin
Kettell: In this interview, metals analyst Anthony Milewski discusses the
recent move in nickel that followed the LME Week in London. -
more
A
Remote Pacific Island Sends a Bullish Signal on Nickel: Gadfly - Here's a
sign that 2017's nickel boom is in full swing: Vale SA is looking to sell
a slice of its New Caledonian unit, and seems to be attracting bidders. -
more
Vale Receives Bids for Stake in New Caledonia Nickel Business -
more
Export
Quota of Indonesia’s Nickel Mine Released - Ministry of Energy and Mineral
Resources of Indonesia released their guiding opinions on export quota. -
more
Market
Trend of Import of Ferroalloy as of 31 October 2017 = Future in China is
unclear due to regulation on production effective from November = (General
Overview) The 19th National Congress of the Communist Party of China finished
on October 24, but the supply and demand from now onward has become more
unclear because the production and construction work in Beijing, Hebei and
its vicinity are supposed to be regulated from November 15 to March 15 next
year. -
more
MEPS
Forecasts Global Crude Steel Output at 1.7 Billion Tonnes This Year - World
crude steel production is expected to expand, markedly, in 2017. Steel demand
has rebounded, this year, amid an improving economic climate. -
more
Timmins
also bidding for ferrochrome plant - Timmins is taking a new step forward
with the plan to attract a new ferrochrome production facility, according
to new information released by the Timmins Economic Development Corporation
this week. -
more
'Sault ... has the best shot for this plant' -
more
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Tuesday, November 7
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Monday's trading session at
$5.86/lb
. Indicators
at 6:30 am CST today show 3 month nickel trading around $.07/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell on Monday and started the
day just over the 382,350 tonne level. Nickel closed just shy of the
$13,000/tonne level yesterday and is backtracking a little today. The US
Dollar is trading higher against both the Euro and the Yuan, adding negative
pressure on base metal trading. Cancelled warrants are down for a seventh
day. After hitting 37.88% on 27 October, they have been sneaking lower and
are at 36.37% today. So is actual demand falling - or are the big investor
houses backing off on 'hiding' inventory? Remember, last Thursday just happened
to be the first day after the LME Week meetings ended. To early to say it's
any kind of turning point, but worth watching. Another commodity analyst
is warning of a pullback in nickel prices, although ANZ is predicting some
staying power in prices over the next few months. Article below. We have
updated out monthly PMI page
(here).
Average price of cash nickel so far this month - $5.75/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China urged to ease reliance on DRC for cobalt -
more
Stocks Rise as Trump Talks Asia Trade; Bonds Gain: Markets Wrap -
more
Monday
closing report - Copper and nickel buoyed by EV demand hopes, strong economy
- more nickel and copper rose on Monday, boosted by expectations of healthy
demand from the electric vehicle sector, a pollution crackdown in China and
signs of solid global economic growth. -
more
Nickel:
Jumping the gun - ANZ - Daniel Hynes, Senior Commodity Strategist at ANZ
points out that Nickel prices have surged 23% over the past month, as investors
homed in on the potential impact of the rising demand for electric vehicles
(EV) and while they agree that the potential is significant, they suspect
the market has jumped the gun and a short-term pullback could be in order.
-
more
China
Hanking (03788) resumes nickel mining in Indonesia - China Hanking Holdings
(03788) said its laterite nickel project (located in North Konawe Regency,
Indonesia) companies have entered into the cooperation agreements with several
partners to resume mining production. -
more
Sault
to make case for $1B 'Ring of Fire' plant - Noront is reaching out to Sault
Ste. Marie to formally ask the city if it is interested in hosting a ferrochrome
processing plant. -
more
3D-Printing Marine-Grade Steel - Marine-grade stainless steel, or 316
as it’s called in the industry, is highly sought after for applications
that range from underwater storage tanks to kitchen utensils and appliances.
-
more
Horizonte
Minerals Submits Mine Plan For Araguaia Nickel Project - Horizonte Minerals
PLC said Tuesday that it has submitted its mine plan for the Araguaia nickel
project to Brazil's National Mining Agency. -
more
Courtesy
AISI - In the week ending on November 4, 2017, domestic raw steel production
was 1,715,000 net tons while the capability utilization rate was 73.6 percent.
Production was 1,573,000 net tons in the week ending November 4, 2016 while
the capability utilization then was 68.7 percent. The current week production
represents a 9.0 percent increase from the same period in the previous year.
Production for the week ending November 4, 2017 is down 1.4 percent from
the previous week ending October 28, 2017 when production was 1,739,000 net
tons and the rate of capability utilization was 74.6 percent. -
source
Viewpoint: Doubly Magic Nickel - Two independent experiments on the
isotope copper-79 confirm that its nuclear neighbor nickel-78 is indeed a
doubly magic nucleus. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Monday, November 6
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Friday's trading session at
$5.77/lb. Indicators at
6:20 am CST today show 3 month nickel trading around $.08/lb
higher. Stockpiles
of nickel stored in LME licensed warehouses rose sharply on Thursday and
fell slightly on Friday, and began the week just under the 383,400 tonne
level. Time for our monthly reminder that we started the year at 372,066
tonnes and the high level for the year was hit on Aug 31 at 389,154 tonnes.
Like to keep the Chicken Little deficit hounds mute with a few facts. The
Euro fell against the US Dollar on Friday, while the Yuan gave back some
earlier gains in the week. Shanghai steel futures continue to climb. Nickel
fell on Thursday, but bounced back on Friday and continues to recover today.
Technicals shows the market is overbought, but otherwise, look positive.
Nickel closed back over minor resistance at $5.76/lb n Friday and if it is
able to close above that level again, then $5.83/lb may establish itself
as the next line, or $5.90/lb might offer some psychological resistance.
A Goldman Sachs report, being quoted by Reuters this morning, says “We
expect nickel prices to remain high over the next couple of months on a
supportive macro-economic backdrop and market tightening driven by Chinese
nickel pig iron (NPI) cuts.” Robin Bhar, head of metals research at
Societe Generale, said in a report Friday, “Between now and the next
12 months we’ve got adequate supply and spreads are generally in contango.
Nickel is probably $1,000 above fair value, so that needs to correct.”
And that's how we start another week in the world of stainless steel. Hope
it's a successful one for you.
Average price of cash nickel so far this month - $5.73/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China and India lead the way in solar power boom -
more
Reuters - Goldman Sachs upgraded its nickel forecasts, pushing its 3-month
nickel view to $12,500 a tonne from $9,000
(FT) In an interview with the Financial Times, Fabio Schvartsman said reducing
debt was his number one priority ..."
Stocks Drift Lower as Banks Lag; Bonds, Oil Climb: Markets Wrap -
more
London Metal Exchange Week galvanised by electric dreams: Andy Home
- The future is bright. The future is electric. The green technology revolution
lit up this year’s London Metals Exchange (LME) Week.-
more
Nickel:
Persistent Consolidation Needed For Continuity Of Uptrend - Having a look
at the movement in the same chat on November 3rd, 2017, I find that the Nickel
futures price seems ready for volatile moves on either side from the current
levels after an eruptive move during the Week of October 29th, 2017. -
more
Nickel: The Secret Driver Of The Battery Revolution - But while lithium
and cobalt deservedly get a lot of the press, there is another metal that
will also be changed forever by increasing penetration rates of EVs in the
automobile market: nickel. -
more
Australian Mines bags $20M to accelerate cobalt, nickel projects -
Australian Mines Limited’s shares are trading circa 29% higher intra-day
after securing $20 million via a share placement to international institutional
investors, at $0.085 per share. -
more
Electric
cars could give nickel a jolt - Glencore and Trafigura Group Pte are often
at loggerheads, but one thing they agree on: The nickel market will be
transformed by the rise of electric cars. -
more
French territory New Caledonia to hold referendum on self rule - The
French overseas territory of New Caledonia will hold a referendum on self
rule in 2018, which is expected to pave the way to full independence for
the Pacific archipelago. -
more
The GOP
Proposes Tax Reform That U.S. Shale Will Love, Tesla Will Hate - The popular
joke about Tesla founder and CEO Elon Musk is that every time his company
reports another quarterly operational loss, he makes another high profile
speech about creating a human colony on Mars. -
more
Zimbabwe chromium and iron exported through Mozambique’s ports - A million
tonnes of chromium and iron ingots from Zimbabwe will be transported annually
through the ports of Maputo and Beira along the Limpopo and Machipanda railroads,
under a three-way agreement signed recently, the Mozambican press reported.
-
more
Reserve
training film at archives - This Remembrance Day, take a moment to remember
our local military service members by watching film footage of reserve training
at Minnow Lake at the City of Greater Sudbury Archives. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Thursday, November 2
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Wednesday's trading session at
$5.80/lb. Indicators at
6:30 am CST today show 3 month nickel trading around $.06/lb
lower. Stockpiles
of nickel stored in LME approved warehouses rose on Wednesday and now total
just under the 381,600 tonne level. LME Week festivities ended last night,
and maybe there are a few hangovers this morning, as nickel takes a rest
from its two day spike. In fairness, all LME traded base metals are lower
this morning. The Euro remains quiet, while the Yuan jumped overnight, but
is back to yesterday's level. Shanghai steel futures rose overnight.
Not sure how long it will last, but we show $5.83/lb as the next level of
resistance. with $5.90/lb offering a line of psychological resistance
($13,000 tonne). Lot being suddenly said about the nickel crunch we
are supposedly already in, using the cancelled warrants being at 37% as evidence.
Cancelled warrants have been over the 27% level for a few weeks now, and
before that they were at this level in August, before they fell to the high
20% range. Before that, would have been February 2016, when they were coming
down from the 40% range the month prior. Back then nickel was trading under
$4/lb, and did little as cancelled warrants rose. So what gives? At one time,
they meant something. Like supply and demand. Or the Baltic Dry Index. The
Financial Times wrote an article in 2011 titled 'Re-evaluating cancelled
warrants' in which they stated "The cancellation of the warrant, after
all, meant someone was ready to take delivery of the metal in question, taking
it out of storage for sale into the real physical market. At FT Alphaville,
however, we’ve recently observed that’s not necessarily what is
happening nowadays. Metal is still being taken “off warrant”, but
rather than being transferred into the physical market it’s ending up
in non-LME storage facilities or simply being classified private non-LME
registered stock in the very same warehouses. Kept out of sight, so to speak.
Citi’s latest note on aluminium reflects the concerns. As their metals
analysts commented this week (our emphasis): LME Cancelled Warrants have
surged to extremely high levels in recent weeks. The issue now is deciding
whether this is merely a large holding being transferred to another warehouse
– on the back of a better rent deal – or whether consumers are
‘canceling’ in anticipation of long delays in getting hold of their
material." -
source. In other words, large metals traders are sometimes
boosting this number by playing 'hide the inventory'. With another lowering
in rents recently announced, this 'tactic' will probably become more popular
again. And on that dirty little market secret, we finish aother week. We
hope each of you has a restful and safe weekend, and invite you back next
week.
Average price of cash nickel so far this month - $5.76/lb
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
China steel futures fall amid uncertain outlook -
more
Dollar Drops as Powell Set for Fed Nod; Bonds Slip: Markets Wrap -
more
Electric vehicle story fuels nickel's jump to 2-year high - Nickel
prices rocketed nearly six percent on Wednesday to two-year highs on growing
expectations of strong demand from manufacturers of rechargeable lithium-ion
batteries used to power electric vehicles. -
more
Nickel
Rallies Most in Five Years on Promise of Electric Cars - The nickel market
has caught fire, with prices posting the biggest two-day advance in five
years. -
more
MEPS
Predicts Record High for Global Stainless Steel Production in 2017 - MEPS
forecasts that world crude stainless steel output will reach an all-time
high of 47.5 million tonnes in calendar year 2017 -
more
Australia's nickel industry is at a 'natural turning point' - Shares
in ASX-lised Western Areas opened strongly on Thursday, rising 3.2 per cent
in morning trading, while main rival Independence Group traded 2.9 per cent
higher. -
more
Nickel
Price Surging As Hype Escalates During LME Week - It’s LME Week and
there’s cause for celebration in metal markets. European mining stocks
rose to a 4-year high as the nickel price surged more than 5% intraday to
a two-year high and rose by the daily limit in Shanghai trading today. -
more
U.S.
Stainless Steel Bar Producers Applaud Affirmative Preliminary Determination
to Reinstate Two Indian Bar Producers Back Under Existing Antidumping Duty
Order -
pdf
here
Fatality at New Caledonia nickel plant - There has been a fatal accident
at the Vale nickel plant in New Caledonia. -
more
World Steel Association Outlines Challenges Ahead For Steelmaking Raw
Materials - The surge in Chinese steel production in the 2000s has boosted
the demand for steelmaking raw materials including iron ore and metallurgical
coal. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
Wednesday, November 1
Daily
Nickel/Stainless Steel Briefing(7:00 AM CST is 12 PM in London)
Three month nickel closed Tuesday's trading session at
$5.58/lb
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.23/lb
higher. Stockpiles
of nickel stored in LME approved warehouses fell on Tuesday and started today's
session just over the 381,400 tonne level. Toward the end of London's trading
day yesterday, nickel traders decided to start another bullish run, that
apparently caught bears completely off guard. At one time nickel was trading
at $5.90/lb, nearly $12,500 tonne, and over $1000/tonne higher than it had
traded at at one point on Monday. After its first successful close about
the $12,000 level and resistance at $5.49/lb, nickel continues to trade bullishly
today, and at one point, was trading over the $13,000/tonne level. You have
to go back to June 2015 to find nickel trading at these price levels. Whether
they will hold or not, remains to be seen. LME nickel analysts and traders
seem to be on a high right now, so its hard to see this being a dead cat
bounce. RSI and Stochastics are flashing overbought, but other technicals
remain positive. Euro is doing nothing against the US Dollar, but the Yen
is higher, which is offering support. Shanghai steel futures gave up their
gains from yesterday and while remaining off monthly lows, are well off their
high for October. Either someone forgot to let the International Nickel Study
Group that things are about to get interesting with their metal, or they
deal on facts and not hypothesis. At their meeting last week, they forecast
the deficit in nickel production compared to demand - to fall from 2017 levels
- see the Tex report article below. It's a new month and volatility is back
in the market, so interesting times could be ahead. It's all about the battery
- boom or bust - yet to be determined.
Average price of cash nickel so far this month - $5.14/lb (avg October)
Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 -
$4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
(USGS) Metal Prices in the United States Through 2010 -
pdf
here
Steel Industry CEO Discusses The Impact Of The Canadian Steel Industry On
The North American Automotive Market -
more
Stocks in Europe Hit Two-Year High as Metals Surge: Markets Wrap -
more
Copper
slips on fears October rally is overstretched; nickel jumps - Copper fell
on Tuesday as its rebound from Friday’s 2 percent drop was arrested
by concerns that the market had become overextended during this month’s
push to three-year highs above $7,000 a tonne. -
more
INSG
Anticipates Ni Production during 2017 to 2018 to Continue Rising = Consumption
also will go up and both demand and production are anticipated to be strong
= The regular meeting of the International Nickel Study Group (INSG) was
held in Lisbon, Portugal during 23rd to 24th of October. -
more
Nigeria:
World Bank Predicts Further Rise in Commodity Prices in 2018 - The World
Bank has predicted that oil prices would rise to $56 a barrel in 2018 from
$53 this year, as a result of steadily growing demand, agreed production
cuts among oil exporters and stabilising United States shale oil production.
-
more
State
miner Antam 'strikes gold' in third quarter - State-owned miner PT Aneka
Tambang (Antam) has recorded a 7.9 percent annual increase in net revenues
in the first nine months of this year to Rp 6.96 trillion (US$513.37 million),
with 55 percent coming from gold sales. -
more
Press
Release - For the month of November 2017, North American Stainless will maintain
the fuel surcharge at 22% for stainless flat and long products. The surcharge
rate is considered a maximum level for November and will be reviewed monthly.
-
source
North
American Nickel forecasts Greenland project launch by 2024 - North American
Nickel should start producing at its flagship Maniitsoq project in Greenland
by 2023 or 2024, when demand for nickel from electric vehicle (EV) batteries
should be in full swing, the company’s chief executive officer (CEO)
said on Tuesday. -
more
Morning Nickel
Price Statistics & Figures
Today's almost official prices
here / Yesterday's actual
LME official prices
here
or
here
Shanghai Jinchuan nickel price - available
here
or
here(updated)
Please let us know if any of these links stop working, stop carrying
info, or become available to subscriber's only. We encourage our readers
to use the services of those companies who supply news and information free
of charge.Contact
us
"A Guide To LME
Trading"...pdf here(all ton listings are metric
tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST -
DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on this page
are indications only. Note - For real time and official LME prices, LME requires
a user subscribe to an authorized LME vendor.
Daily
Nickel/Stainless Steel Briefing
(7:00 AM CST is 12 PM in London)
. Indicators
at 6:20 am CST today show 3 month nickel trading around $.05/lb
lower. Stockpiles
of nickel stored in LME approved warehouses fell slightly on Wednesday and
started today's session just over the 380,100 tonne level. It is the last
trading day of November and regardless of what happens, nickel averaged higher
this month than it did last month, roughly by $.30/lb. But the month ends
on a down trend, and while traders were able to crawl back over the major
support level $5.16/lb yesterday, that level is in danger of failing again
today. And while the market is off recent highs of nearly $13,000/tonne on
the 7th of this month, it is still well above the low of roughly $8800/tonne,
it hit back in June. Last evening the market closed at $11,520 so we have
a lot of room for the market to move - in either direction. Much of the battery
talk has subsided with hopes for increased demand for nickel now confined
well down the road. We think much of this talk evaporated once it became
clear the new Chinese five year plan did not announce any goal to completely
convert their vehicles from petroleum. The new rule this century, if the
US or Europe sneezes, the world catches a cold. When China sneezes, the world
heads to the doctor to get a pneumonia shot. Lets hope China stays away from
the dust for awhile. This is our last update for the week, so we wish our
readers a safe and relaxing weekend.
Reports
Commodity/Economic Comments
(Wednesday wrap-up) Copper pushed lower on worries over China, falling
oil price - Copper prices dropped for a third day and aluminium fell to the
lowest since mid-August as concerns over demand in top consumer China and
declining oil prices pushed investors to sell. -
New
World Order is Reshaping Stainless Steel Market - Global stainless steel
production reflects the shift in relative size and influence between the
world’s established and developing economies. -
Metal production up 6% from Jan-Sept - Metal production rose six percent
to P81 billion in first nine months of the year due to the continued improvement
of prices in the world market, the Mines and Geosciences Bureau (MGB) said.
-
Opposition organizes against Sault's ferrochrome smelter proposal -
A local grassroots group is talking about using the story of Erin Brockovich
to persuade Saultites there are better ways to build our economy than a
ferrochrome smelter -
Indonesia eyes global playing field with state mining conglomerate
- The day began with dozens of Indonesian government officials and state
mining executives shuffling in and out of marathon meetings at one of Jakarta's
oldest hotels. -
Zimasco
engages creditors on scheme of arrangement - Kwekwe-based chrome smelting
company Zimbabwe Mining and Smelting Company (Zimasco), met its creditors
yesterday to deliberate on the proposed scheme of arrangement. -
Is China's aluminium sector too relaxed about U.S. dumping moves?:
Russell - It will be tempting for China’s aluminium market participants
to dismiss as inconsequential the latest move by the U.S. Commerce Department
to impose anti-subsidy and anti-dumping duties on imports of aluminium alloy
sheet. -
Morning Nickel
Price Statistics & Figures
NAS Press
Release - For the month of December 2017, North American Stainless will increase
the fuel surcharge to 23% for stainless flat and long products. The surcharge
rate is considered a maximum level for December and will be reviewed monthly.
-
Promising signs in Tanzania as explorers meet with new mining minister
- The situation in Tanzania is looking a bit more promising for Australian
juniors with resources projects in the East African country, with small signs
of government support. -
World
Nickel Market Ended in Marginal Deficit During Jan-Sep ‘17 - The latest
Metals Balances Report released by the World Bureau of Metal Statistics (WBMS)
indicates that global Nickel market has ended in a marginal deficit during
the initial nine-month period of 2017. -
RNC Plans to
Double Beta Hunt Nickel Production in 2018 and Resumes Discussions with Financing
and Offtake Partners for Dumont Nickel-Cobalt Project - RNC Minerals is pleased
to provide an update on its plans to increase nickel production from the
Beta Hunt gold and nickel mine. -
China's
steel prices to stabilize in 2018: industry group - China's steel prices
will continue to firm up in 2018 as production and supply are becoming more
balanced, according to a senior official at the China Iron and Steel Association
(CISA). -
Burundi
signs agreement with Canada based company to exploit nickel - The Burundian
government Monday signed an agreement with CVMR, a Canada-based company to
continue explorations and the exploitation of nickel in Karusi and Gitega
provinces, central Burundi, the Burundian energy and mining minister said
here in a press conference. -
Norilsk
Nickel: urban residents to be engaged in solution of infrastructural projects
- It is impossible to solve infrastructural problems of northern cities and
create a comfortable environment there without the initiative of residents,
Senior Vice President of Russian mining and metals company Norilsk Nickel
Larisa Zelkova told TASS. -
US
markets are closed Thursday for Thanksgiving. Our next update will be Monday,
November 27. Happy Thanksgiving to our US readers and a big thank you to
all of our daily readers!
Glencore Sees Nickel in Best Shape in Decade Before EVs Take Off -
Glencore Plc is seeing the best market conditions for nickel in at least
a decade, and electric cars are barely playing a part yet. -
China's
Prices of CR Stainless Steel Sheets on Downward Trend - = With the year end
imminent = According to a source, China's market prices of stainless steel
flat products are likely to be on an downward trend with the year end imminent.
-
Brazil's Vale still eyeing sale of stake in New Caledonia nickel mine
- Brazilian miner Vale is still looking to sell a stake in its New Caledonian
nickel operations, despite press reports that the company would postpone
the sale, the Brazilian miner said Monday. -
Domestic
stainless steel output to hit 3.6 mt at 2017-end - The growth is in response
to the rising demand for stainless steel, mainly from sectors such as auto,
roads and highways, housing and the like, the industry veteran said, adding
that the demand will keep rising every year -
Production
Plan for Special Steel Products in Oct-Dec 5.0718 Mil. Tons = Down by 0.4%
from year-earlier period = On November 10, the Ministry of Economy, Trade
and Industry made clear the production plan for hot-rolled special steel
products in the period from October to December in 2017. -
Vale
CEO Schvartsman cuts investments in low-return segments - Vale SA will
halt new investments in low-return segments like its nickel business, the
company’s chief executive officer said on Wednesday. -
Greens
not buying into talk about a “miracle” in Sotkamo - Terrafame announced
last week its plans to build a battery chemicals production plant adjacent
to its zinc and nickel mine in Sotkamo, Northern Finland. -
Cuba
Looks to Expand its Open Pit Nickel Mines - Cuba’s nickel industry is
looking to expand its strip mines in search of this precious metal. According
to Juan Ruiz Quintana, the managing director of Mining at the Ministry of
Mines and Energy, “geological studies to discover new areas rich in
this and other metals” are underway. -
Sherritt to transfer part ownership of Madagascar mine to settled debt
woes - Sherritt International Corp.says it has reached a deal with the joint
owners of a Madagascar mine that will see it transfer more ownership to cut
its outstanding debt. -
